Which of the following describes a situation in which a shortage occurs?
Question 3a of 10 - Supply and demand
- Maximum Attempts: 1
- Question Type: Multiple Choice
- Maximum Score: 2
- Question: Which of the following describes a situation in which a shortage occurs?
- Consumers want more video-game systems than the company can make.
- There is inefficiency in the productive process used to make cell phones.
- A computer company tries to charge too high a price for a new laptop computer.
- A clothing store puts sweaters on sale to get rid of them before the end of winter.
The correct answer is: Consumers want more video game systems than the company can make. A shortage occurs when demand exceeds supply.
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